Refurbishment Progress at Pine Cove Mill

2 min read | October 13, 2024 07:29 PM EDT | By Team Kalkine Media

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Refurbishment Progress at Pine Cove Mill — Image source: Shutterstock

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Maritime Resources Begins Refurbishment at Pine Cove Mill

Focus on Equipment Upgrades and Personnel Recruitment

Processing Operations Set to Begin at Pine Cove Facility

Maritime Resources (TSXV:MAE) has commenced refurbishment work at the Pine Cove mill, located in the Baie Verte mining district of Newfoundland and Labrador. The company acquired the Point Rousse Project in 2023, which includes the Pine Cove gold processing plant and a significant tailings storage facility. The plant has been under care and maintenance since early 2023, but efforts are now being made to bring it back into operation.

The company's leadership, including CEO Garett Macdonald, is focused on re-commissioning the Pine Cove mill following the successful completion of a rights offering. This effort will pave the way for Maritime to process its mineralized stockpile inventory and provide a financial boost for the development of its fully permitted Hammerdown Gold Project.

The refurbishment program includes comprehensive equipment upgrades and inspections throughout the processing plant. These upgrades are being conducted to ensure that both electrical and mechanical systems are prepared for a safe restart. Recruitment efforts for key personnel, including the recent appointment of industry veteran Dwight Goudie as the Pine Cove Mill Manager, are also underway.

In collaboration with industry consultants and local contractors, Maritime’s care and maintenance team is working to complete the necessary upgrades within the next two months. The company has also started sourcing essential materials and equipment required for the resumption of operations later this year.

Maritime is preparing mineralized material from the area surrounding the mill for processing by stockpiling it near the facility. Additional sampling of the area is being carried out, and gold-bearing material from the tailings storage facility is being excavated and transported to the stockpile yard.

As operations ramp up, the company has identified a significant quantity of stockpiled material with a notable concentration of gold, positioning Pine Cove for a productive restart.

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